Market Update: S&P/ASX200 Ended in Green. A Quick Overview

Mar 10, 2020 AEDT

Team Kalkine

As the market players are aware, the Australian stock market is sensitive to the macro-economic parameters and to the performance of global stock markets. At the close of session on March 10, 2020, the benchmark index i.e., S&P/ASX200 went up by 3.0% and settled at 5939.6. S&P/ASX 300 Metals and Mining (Industry) closed at 3,711.5, which reflects a rise of 151.4 points and S&P/ASX 200 Health Care (Sector) stood at 43,427.8, reflecting an increase of 3.55%. At the end of same trading day, All Ordinaries ended at 5995.8 with a rise of 173.4 points.

Some companies performed well and closed in green including Viva Energy Group Limited (ASX: VEA), which inched up by 13.781% and closed at $1.610. NRW Holdings Limited (ASX: NWH) settled the session at $1.970 with a rise of 12.571%.

Notably, S&P/NZX50 experienced a decline of 1.76% and stood at 10,897. Finzsoft Solutions Limited (NZX: FIN) gained 11.70% and ended at NZ$1.050. Barramundi Limited (NZX: BRM) rose by 3.23% to NZ$0.640 per share. On the other hand, SeaDragon Limited (NZX: SEA) witnessed a drop of 50.00% and closed at NZ$0.001.

Recently, we have written an important article on Lake Resources NL (ASX: LKE). Readers can view information by clicking here.

Viva Energy Group Limited Witnessed a Rise of 13.781% on Australian Stock Exchange

Viva Energy Group Limited (ASX: VEA) recently announced that Scott Wyatt has made a change to holdings in the company on 3rd March 2020 by disposing 40,000 ordinary shares at the consideration of $73,400. For the full year ended 31st December 2019, the underlying EBITDA (RC) and NPAT (RC) stood at $644.5 million and $135.8 million, respectively. The Retail segment of Viva reported underlying EBITDA (RC) amounting to $564.3 million. Stronger than forecasted retail fuel margins in December 2019 has helped the retail segment to achieve this result.

The company declared fully franked final dividend amounting to 2.6 cps, bringing the full year dividend to 4.7 cents per share. VEA would continue to focus on restoring sales volumes in its Alliance channel and capturing any recovery in retail fuel margins in 2020.

NRW Holdings Limited Settled in Green on 10th March 2020

NRW Holdings Limited (ASX: NWH) recently notified the market with the results for 1H FY20, wherein, it reported revenue amounting to $808.7 million, reflecting a robust rise of 55% over pcp. NPATA for the period stood at $41.2 million with an increase of 28%. Moreover, it has secured new Civil contracts worth of $70 million at Blackwater and Goonyella for BHP Mitsubishi Alliance. The strong cash conversion resulted into a rise in cash holdings to $122.5 million. The management of the company has declared an interim dividend of 2.5 cents per share for 1H FY20. For FY21, the company has revenue cover of around $1.8 billion.

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